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    Ukraine’s Defense Industry Swings into Profit

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    Ukraine’s state defense holding UkrOboronProm, which unites 125 domestic defense enterprises, saw its first half 2013 profits soar 520 percent to 410 million hryvna ($51.2 million) after a 97.6 million hryvna ($12.2 million) loss a year earlier, UkrOboronProm CEO Sergiy Gromov said on Wednesday.

    KIEV, August 7 (RIA Novosti) – Ukraine’s state defense holding UkrOboronProm, which unites 125 domestic defense enterprises, saw its first half 2013 profits soar 520 percent to 410 million hryvna ($51.2 million) after a 97.6 million hryvna ($12.2 million) loss a year earlier, UkrOboronProm CEO Sergiy Gromov said on Wednesday.

    “The profits of shipbuilding and marine hardware producers grew from 35 million hryvna in the first six months of 2012 to 221 million hryvna in the corresponding period of 2013,” UkrOboronProm’s press service quoted Gromov as saying.

    Aircraft industry enterprises increased their profits from 80 million hryvna to 143 million hryvna. Profits of special arms exporters grew from 44 million hryvna to 64 million hryvna, he said.

    The producers of radars, air defense systems, artillery guns and communications also managed to overcome the crisis over the year and post an aggregate profit of 7.5 million hryvna in January-June 2013 compared with a loss of 62 million hryvna in the first half of 2012, he said.

    Enterprises producing the armor, vehicles, engineering and special equipment were able to reduce their losses from 173 million hryvna to 17 million hryvna and rocket and munitions producers from loss of 22 million hryvna to just 11 million hryvna, he said.

     

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    defense industry, Ukroboronprom, Sergiy Gromov
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